Seventy-eight years ago, on February 4, 1936, the British economist John Maynard Keynes (18831946) published what soon became his most famous work, "The General Theory of Employment, Interest, and Money." Few books, in so short a time, have gained such wide influence and generated so destructive an impact on public policy. What Keynes succeeded in doing was to provide a rationale for what governments always like to do: spend other peoples money and pander to special interests.

I wonder if these ideas are more like to take hold in times of crises. 9/11 is branded in everyone's skull as it was so shocking. Same with the 1929 stock market crash and 1/3 of the banks crashing, same with the hyperinflation in Germany. People are more malleable during these times.

I wonder if it was a coincidence that the usual suspect bankers were involved in this stuff.

It was engineered to be that way Germany has been a current account surplus country for a long time this has been at the expense of the PIGS and others. Germany like China has to re-balance with these countries.

The truth of Merkel's intentions will be when Germany has a deficit current account.